UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Has $200.01 Million Stake in Steel Dynamics, Inc. $STLD

Key Points

• UBS Asset Management increased its stake in Steel Dynamics, Inc. by 3.4%, acquiring an additional 52,218 shares and owning approximately 1.08% of the company, valued at $200 million.
• Institutional investors now hold 82.41% of Steel Dynamics' stock, with Price T Rowe Associates and Victory Capital Management making significant increases in their positions in the first quarter.
• Steel Dynamics has announced a quarterly dividend of $0.50 per share, representing an annualized yield of 1.5%, with the ex-dividend date occurring on September 30th.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 3.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,599,076 shares of the basic materials company's stock after acquiring an additional 52,218 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 1.08% of Steel Dynamics worth $200,012,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Woodline Partners LP grew its stake in Steel Dynamics by 4.7% in the first quarter. Woodline Partners LP now owns 147,808 shares of the basic materials company's stock valued at $18,488,000 after purchasing an additional 6,584 shares in the last quarter. MBB Public Markets I LLC acquired a new stake in shares of Steel Dynamics during the 1st quarter valued at about $311,000. Ascent Group LLC lifted its holdings in shares of Steel Dynamics by 43.9% during the 1st quarter. Ascent Group LLC now owns 2,716 shares of the basic materials company's stock valued at $340,000 after buying an additional 828 shares during the last quarter. United Services Automobile Association acquired a new position in Steel Dynamics in the first quarter worth approximately $391,000. Finally, Caxton Associates LLP acquired a new position in Steel Dynamics in the first quarter worth approximately $520,000. 82.41% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, SVP Christopher A. Graham sold 12,000 shares of the company's stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $126.71, for a total transaction of $1,520,520.00. Following the completion of the transaction, the senior vice president directly owned 66,738 shares in the company, valued at $8,456,371.98. The trade was a 15.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have commented on the stock. Morgan Stanley boosted their target price on shares of Steel Dynamics from $140.00 to $145.00 and gave the stock an "overweight" rating in a research report on Friday, June 20th. Wells Fargo & Company upped their price objective on shares of Steel Dynamics from $143.00 to $150.00 and gave the stock an "overweight" rating in a report on Monday. Finally, JPMorgan Chase & Co. increased their target price on shares of Steel Dynamics from $138.00 to $150.00 and gave the stock a "neutral" rating in a research report on Monday, July 14th. Nine research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $149.40.

Steel Dynamics Stock Performance

NASDAQ:STLD traded up $0.93 during midday trading on Monday, reaching $131.58. The stock had a trading volume of 1,083,210 shares, compared to its average volume of 1,575,828. The stock has a market capitalization of $19.37 billion, a P/E ratio of 19.18, a PEG ratio of 1.06 and a beta of 1.40. Steel Dynamics, Inc. has a 1-year low of $103.17 and a 1-year high of $155.56. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.13 and a quick ratio of 1.34. The firm's fifty day simple moving average is $129.59 and its 200-day simple moving average is $127.99.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last released its quarterly earnings results on Monday, July 21st. The basic materials company reported $2.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.05 by ($0.04). The firm had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.82 billion. Steel Dynamics had a net margin of 6.07% and a return on equity of 11.88%. The firm's revenue was down 1.5% on a year-over-year basis. During the same quarter last year, the company earned $2.72 earnings per share. On average, equities research analysts forecast that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.00 dividend on an annualized basis and a yield of 1.5%. Steel Dynamics's dividend payout ratio (DPR) is 29.15%.

About Steel Dynamics

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. The Steel Operations segment offers hot rolled, cold rolled, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing steel bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars; channels, angles, flats, merchant rounds, and reinforcing steel bars; and specialty shapes and light structural steel products.